$600,000 Knicks Seats Among Perks That Triggered Fine for BGC

Firm failed to report sports tickets as compensation, SEC says
Equity derivatives head Anthony said to be ticket recipient

Bloomberg’s Lisa Abramowicz discusses the SEC fining a brokerage over Knicks tickets.Daybreak: Americas." (Source: Bloomberg)

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By Zeke Faux and Matt Robinson

July 18, 2018 at 7:20 PM UTC

This article is for subscribers only.

BGC Partners Inc.’s Richard Anthony is a diehard Knicks fan who has long had courtside seats for a basketball team that’s known for annoying New Yorkers with its struggles. Now his fandom is contributing to irritations among Wall Street regulators.

A BGC brokerage unit was fined $1.25 million by the Securities and Exchange Commission Tuesday over allegations that included failing to appropriately report sports tickets and travel expenses as compensation.